According to Sharp's Twitter feed, TLPY had known about the litigation as early as last Monday. Sharp claims that Ansell contacted him shortly after becoming aware of the lawsuit and offered money to resolve the dispute. When Sharp insisted that Ansell publicly disavow the Pump & Dump campaign, discussions ended.
|Sharp Press Release Regarding Lawsuit|
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The entire scenario created suspicion that the perpetrators of the TLPY scam dumped shares en masse in the well-founded anticipation of a rush for the exits as word of the lawsuit spread. Lawsuits initiated by Sharp in the past have created an urgency for retail stockholders to divest themselves of their positions. These actions have undoubtedly had a hand in the demise of major stock promoters Stock Castle, Awesome Penny Stocks and Best Damn Penny Stocks, the latter two of which have since seen prominent figures indicted on securities fraud charges.
TLPY shares are now firmly entrenched in the red, as the price closed well below the Pump & Dump campaign's launch price following today's 54% drop. This scheme was doomed to struggle from the beginning after concerns from a company director were made public by us in a report to Full Access subscribers.
This is the second StockTips.com Pump & Dump campaign in less than a year to face adversity early on. Last May, thousands of traders in Pingify, Inc. (PGFY) were left holding the bag after the CFO's public denouncement of the scheme led to an early suspension in trading of shares. We believe that the very same scenario may pay itself out with TLPY.
In the meantime, this could be the final whimper for StockTips.com and its schemes, as the hot breath of the SEC must surely be felt on the back of some unscrupulous necks.